John Tamny of Forbes
For Americans who’ve been lucky enough to visit foreign soil this decade, the one unfortunate glitch involved learning just how little a dollar can buy overseas. With the dollar having declined against nearly every major foreign currency, travel outside the U.S. has been as expensive as it has been fulfilling.
Sadly, dollar debasement has masked a more hidden truth about the health of ostensibly stronger currencies–and the global economy. Put simply, the foreign currencies that have exhibited relative strength have only been strong insofar as the dollar has been very weak.
